News: Lincoln Minerals intersects high grade graphite, South Australia

Lincoln Minerals (ASX:LML) shares will rise following graphite assays of up to 42.8% TGC from initial drilling at the historic Koppio Graphite Mine on South Australia’s Eyre Peninsula.

The single metre intersection was from a depth of 53 metres, and is thought to be one of the highest graphite grades recorded to date in Australia.

Drilling intersected varying grades and thicknesses with all but one drill hole intersecting minor to significant graphite
mineralisation.

The one drill hole failing to hit graphite was drilled as a scissor hole to the mine section but was positioned too far away from the mineralisation to intersect graphite at depth.

Several zones have been identified that require further sampling to close off mineralisation before Mineral Resource estimation can commence.

The drilling at Koppio has extended graphite mineralisation from a strike length of 50 metres to over 525 metres, and a depth extent of at least 100 metres below ground level at the site of the historic workings.

The current strike length is still open to the north and south of existing drilling, and the strike extent defined has confirmed electromagnetic imagery for further exploration drilling.

While it is too early to define a Mineral Resource, the new results, combined with Lincoln's Kookaburra Gully Resource, indicate that this region of Eyre Peninsula could be a substantial graphite province.

Significant potential still exists on the adjoining but undrilled Kookaburra Gully Extended exploration targets.